Kathmandu. The Securities Board of Nepal (SEBON) has granted permission to NIC Asia Bank Limited to issue 50 percent right shares. The bank has approved the proposal to issue 50 percent of its paid-up capital i.e. 1 unit of right shares at the rate of 2 units.

The bank will issue a total of 7,45,87,835 units of right shares. The bank will issue rights shares worth Rs 7,45,87,83,500 on the basis of face value of Rs 100 per share.

NIMB Ace Capital Limited has been appointed as the issue manager for the issue of right shares of the bank.

Earlier, the bank had received preliminary approval from Nepal Rastra Bank for the issuance of right shares. With the approval of Sebon, the bank has been cleared for the issuance of right shares.